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Thomson Imperial Court is a freehold mixed development comprising a retail podium from the basement 1 to the first floor as well as a residential block from the second storey to the fourth storey.
An 11,011 sq ft commercial unit at Thomson Imperial Court has been put up for sale, with a guide price of $19.5 million or $1,771 per sq ft on strata area, revealed marketing agent SRI.
Completed in 1999, Thomson Imperial Court is a freehold mixed development comprising a retail podium from the basement 1 to the first floor as well as a residential block from the second storey to the fourth storey.
The unit on sale is located at basement 1 and enjoys direct access to the carpark facility. Currently, it is tenanted to Sheng Siong Supermarket, which is the development’s anchor tenant.
“Having a good tenant provides strong and steady cash flow in all property investment. This asset can be added on to any real estate portfolio, to generate income stream and potentially enjoy capital appreciation,” said Tony Koe, Managing Director at SRI.
Low Choon Sin, Managing Partner at SRI Capital Markets, noted that the unit commands a substantial controlling stake of about 23% share value of the freehold development. The majority share value stake provide a single owner with influence in the possibility of a future en bloc sale of Thomson Imperial Court.
“With the rarity of such sizeable floor area available for sale and against the backdrop of tightly held strata commercial supply, we believe that this offering will appeal to both local and foreign investors. There will be no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty imposed and both foreigners and companies will be eligible to purchase the property,” he added.
Located along Upper Thomson Road, Thomson Imperial Court is within a five-minute walk to the future Upper Thomson MRT Station on the Thomson-East Coast Line (TEL) that is expected to be completed this year. It is also connected to the rest of the island via expressways and major arterial road such as Pan Island Expressway, Central Expressway, Lornie Highway and Lornie Road.
The expression of interest exercise for the freehold commercial unit closes on 4 June.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg